bankruptcy remote owner trust
French translation: structure d'accueil, organe ad hoc , structure sp�cifique , fonds commun de cr�ances (FCC),
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| 14:40 May 30, 2001 |
| English to French translations [PRO] Bus/Financial | ||||
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|  Selected response from: Nikki Scott-Despaigne Local time: 13:07 | |||
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| na | structure d'accueil, organe ad hoc , structure sp�cifique , fonds commun de cr�ances (FCC), |
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Answers
1 hr
structure d'accueil, organe ad hoc , structure sp�cifique , fonds commun de cr�ances (FCC), Explanation: SPV = Special-purpose vehicle SPC = special-purpose corporation SPE = special purpose entity http://www.investinginbonds.com/info/igabs/glossary.htm Special-purpose vehicle (SPV). A bankruptcy-remote entity set up to insulate the issuer of ABS (the trust) from the sponsor, or originator, of the assets. Also called special-purpose corporation (SPC). http://www.stern.nyu.edu/~igiddy/ABS/securitizationintro.htm (beaucoup de d�tail ici) Securitization of Financial Assets Timothy C. Leixner HOLLAND & KNIGHT LLP BASIC STRUCTURE In its simplest form a Securitization involves (1) the sale of a large pool of Receivables by an entity (Originator) that creates such Receivables (or purchases the Receivables from entities that create them) in the course of its business to a "bankruptcy-remote," special purpose entity (SPE) in a manner that qualifies as a "true sale" (vs. a secured loan) and is intended to achieve certain results for accounting purposes, as well as protecting the Receivables from the claims of creditors of the Originator, and (2) the issuance and sale by the SPE (Issuer), in either a private placement or public offering, of debt securities (Securities) that are subsequently satisfied from the proceeds of and secured by the Receivables. When the Securitization is "closed," funds flow from the purchasers of the Securities (Investors - usually banks, insurance companies and pension funds) to the Issuer and from the Issuer to the Originator. All of these transactions occur virtually simultaneously. http://www.granddictionnaire.com/_fs_global_01.htm finance 1 / 1 collateralized security entitySyn.special purpose vehicleSPV structure d'accueil n. f.Syn.organe ad hoc n. m. structure sp�cifique n. f. D�f. :Entit� � laquelle sont c�d�es des cr�ances, par exemple des pr�ts hypoth�caires, regroup�es dans le but de les titriser. Note :Elle finance l'acquisition des cr�ances par l'�mission de titres n�gociables sur le march� des capitaux.En France, le seul type de structure d'accueil actuellement autoris� par le l�gislateur est le fonds commun de cr�ances (FCC), juridiquement assimilable au fonds commun de placement, adapt� pour les n�cessit�s de la titrisation des cr�ances. [1994] webrefs in body of answer |
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